Canara Bank Drops Its MCLR By Up To 5 Basis Points

Public sector lender Canara Bank has reduced its MCLR by up to 5 basis points. The revised rates came into effect yesterday, Nov 12. This decision will reduce the EMI burden on home, auto, and personal loans offered by the bank. The one-year MCLR has been reduced from 8.75% to 8.70%. The two-year MCLR is 8.85%, and the three-year MCLR is 8.90%.